Not all beginners are the same. Some are more prudent than others. Unfortunately, there's only one way to find out.

As a beginner, I never blew up an account. Sizable drawdowns and losses, yes. Total capital destruction, no.

Beginners focus too much on trading and scaling and not enough on risk management.

BA 21 

1. Save your money in a separate bank account. 2. When you've saved a sizeable amount of money (e.g. 25K - 50K), wait for a bear market (company, sector-wide, or market-wide). 3. Once a bear market has been confirmed, go bargain hunting for solid companies, and invest for a long-term hold (2 - 5 years).

Quite literally the worst advice I've read on here.

Firstly, you're clearly confusing day trading with investing. Two very different approaches to trading. Your recommendation is that we look for value companies and buying shares of them, then holding for several years. Whereas day trading is taking frequent positions in the market that last for only a few minutes or even seconds.

Secondly, the whole point of these funding companies is that you can start practising today, without having to save 25-50k. You can start with as little as $30(I've seen some deals cheaper but won't mention names), and if you learn how to trade then you can build up your account without ever having to trade your own money.

Lastly, waiting for a bear market... honestly I don't know where to start. You're suggesting we don't trade or even invest until a bear market is confirmed? Then we can buy the dip right? It's not a bad strategy, except that you never really know where the dip is. Dollar cost averaging is IMO a better strategy for long term investing, as you just keep investing a small amount in every month. And there's types of assets like REITS that start paying dividends quickly after you've invested, so buying these at almost any time could give you better returns than just having the money sat in your bank account.

VirtualMark 

Quite literally the worst advice I've read on here. Firstly, you're clearly confusing day trading with investing. Two very different approaches to trading. Your recommendation is that we look for value companies and buying shares of them, then holding for several years. Whereas day trading is taking frequent positions in the market that last for only a few minutes or even seconds. Secondly, the whole point of these funding companies is that you can start practising today, without having to save 25-50k. You can start with as little as $30(I've seen some deals cheaper but won't mention names), and if you learn how to trade then you can build up your account without ever having to trade your own money. Lastly, waiting for a bear market... honestly I don't know where to start. You're suggesting we don't trade or even invest until a bear market is confirmed? Then we can buy the dip right? It's not a bad strategy, except that you never really know where the dip is. Dollar cost averaging is IMO a better strategy for long term investing, as you just keep investing a small amount in every month. And there's types of assets like REITS that start paying dividends quickly after you've invested, so buying these at almost any time could give you better returns than just having the money sat in your bank account.

You're entitled to your opinion.

It has worked for me. For those whom my experience resonates, they will find value. For those who disagree, can move on.

It's a good thing that your opinion isn't fact.

Good day.

BA 21 

You're entitled to your opinion. It has worked for me. For those whom my experience resonates, they will find value. For those who disagree, can move on. It's a good thing that your opinion isn't fact. Good day.

I am stating fact - you are confusing day trading with investing.

VirtualMark 

I am stating fact - you are confusing day trading with investing.

Maybe you should read more critically and ask questions for clarification instead of jumping to conclusions. I know the damn difference between investing and day trading. Don't talk to me like I am stupid.

You are misconstruing my statement of: "If you need "funding," then you aren't ready to trade. You need to grow your trading account, not by trading. But by doing the following...:"

I see you conveniently left that out of the quote. Either quote me in the entire context, or don't quote at all.

The phrase "not by trading" should have alerted you to the fact that I know the damn difference between day trading and investing.

My ENTIRE MESSAGE implies that one should take their meager trading funds and invest them in the equity markets to grow them to an adequate level. Once the funds have grown to an adequate level of capitalization, then the trader can move those funds back to a trading account.

VirtualMark 

I am stating fact - you are confusing day trading with investing.

BA 21 

Maybe you should read more critically and ask questions for clarification instead of jumping to conclusions. I know the damn difference between investing and day trading. Don't talk to me like I am stupid.

@VirtualMark, @BA 21

Don't let it get heated, please.

You're both saying different things, and it is clear enough in both cases what you mean.

If you want to continue to make your case, or to disagree with and dispute the other, that's fine, but don't get personal about it. Remember forum standards of mutual civility.

The best thing is probably to just move on now and let it go. There are always different views on how best to trade or invest in the markets, or what to do in any given situation, and sometimes they simply are just different.

Bob.

Hi
I realize this sounds like a conspiracy theory however, I trade with someone else and they don't experience anywhere near the same number of platform misfunctions that I do.

He is using Tradovate on Topstep, I'm using Tradovate on Take Profit Trader.

Something that we've noticed is he doesn't experience anywhere near the same number of platform issues I do.

Last week I had almost finished their test where the platform malfunctioned and canceled my stops, blew through it and cause me to have a loss. I have a tendency to FOMO and revenge trade which made me go crazy as I needed to make back that money.

I contacted TPT and they said they would make me whole but there are no issues on their end..

I contacted Tradovate they said it was an issue with TPT and I needed to contact them.

They did not make me whole BTW I ended up blowing my account they reset my account and gave me $1100 balance yet when this happened I had $4100 balance.

So they had a sale 50%off and tried again. I traded for 2 days made 1200 then again the platform starts malfunctioning. I contact TPT and they said they are not having issues on their end. I took some screen shots this time and I sent them the picks.

I thought it was resolved and then again the next day.
Tradelines missing, entry line missing, screens go black, etc, etc, I canceled my day.

I cleared my cache, I reset the platform back to defaults, I managed to make 435 even though I still couldn't get the entry to appear on the candlestick chart. And shut it down. I was exhausted and was going to call it a day, then I thought if I go back in and delete the module completely and set it up again.

So I did this but because TPT doesn't have a sim section you have to try it live. I should have paid better attention when I placed it and just did one order but I had preset brackets, was being lazy and boom it the instrument snipered in and hit my target and blew through. Yes that was my fault but then of course I start to revenge trade because by this point I was so frustrated and angry and exhausted with the day I had trying to fix TPT charts. I just blew my account again.

I have been working on my psychology because I know I FOMO, I know I get angry and I know I have a tendency to revenge trade and then I read an article about FOMO and it got me wondering.

Apparently they are now using bots so you have a string of winning trades to then cause you to fomo by causing you to lose money and you fomo and revenge trade.

I just wonder about TPT because like I said the other person I trade with who is doing Topstep isn't experiencing anywhere near the issues with the same platform I am

And I have a new computer. HP ENVY 3 months old.

Trading in Canada 

Hi I realize this sounds like a conspiracy theory however, I trade with someone else and they don't experience anywhere near the same number of platform misfunctions that I do. He is using Tradovate on Topstep, I'm using Tradovate on Take Profit Trader.

The above post by @Trading in Canada was merged in from another thread, in order to keep posts about this vendor together as much as possible and to prevent duplicating the topic.

Bob.

Hi Bob, sorry I cannot find the thread. I looked under Take Profit Trader but I cannot find it.

Hi Bob

Sorry cannot find where reviews are.

How do I find that?

bobwest 

The above post by @Trading in Canada was merged in from another thread, in order to keep posts about this vendor together as much as possible and to prevent duplicating the topic. Bob.